Buyers Guide to Student Health Insurance

Convincing someone to buy a health insurance would not be much of a difficulty specially when considering the huge medical bills received after obtaining treatment at a heath care facility. However, convincing young adults, specially the students, to obtain health insurance would not be such an easy task because of the false sense of assurance in their young age and good health.

Why do students need health insurance?

According to statistics, young adults have shown to have a higher tendency of seeking emergency care services at a hospital than any other age group. At the same time, any kind of stay at the hospital would be costly and sometimes it would be enough to make a student bankrupt when they begin their adult life. At the same time, staying on the parents’ insurance plan may be costly and may not cover specific requirements of the student. Therefore, seeking to obtain a health insurance cover would be beneficial for any young adult following higher studies.

What are the different methods of acquiring health insurance for students?

One of the easiest and cost effective strategies available for a student would be to be on the parents’ insurance plan and according to the Patient Protection and Affordable Care Act, beginning in September 2010; a student will be able to stay in their parents’ health plan until they reach 26 years of age. This would seize to exist once the dependent becomes eligible for employers health coverage. However, it should be remembered that, continuing on the parents’ health insurance plan may be costly and sometimes may not allow the student to receive assistance if they reside in a different state or else in a different region covered by the ‘health maintenance organization’ or ‘preferred provider organization’ jurisdictions.

‘Medicaid’ would also support students who are either from low-income families, having disabilities, or are already burdened with high medical bills, in obtaining a student health insurance. At the same time, many states will have their own health insurance pool, which will support students who are not eligible to receive insurance through ‘Medicaid’. Both these methods would be useful alternatives when it comes to affordability of a health insurance.

If not, students should look into the possibility of obtaining a low cost health insurance plan through an insurance agent or an organization. In most instances, colleges would provide the necessary support in obtaining such a service.

What are the things to consider before selecting an appropriate health insurance plan?

Among the things that one needs to consider, understanding the benefits of each health insurance plan is of utmost importance. This will allow a person to avoid unnecessary benefits, which may contribute to a higher premium.

Secondly, the cost of the insurance plan would also needs consideration. The cost of the premium should be considered in relation to other expenses such as course fees, expenses for books, accommodation and others, which could arise during student life.

Recognition given to an insurance company or to its insurance plans would be a good measure of a beneficial health insurance plan. Although popular ‘brands’ would carry a slightly higher premium in some instances, it may be a worthwhile investment when considering the services it provide.

At times, a person may prefer to obtain treatment from certain health institutions or else from a certain physicians. In such instances, one should investigate whether such preferences are allowed by the insurance plan.

How does ‘health reform’ legislature affect student health insurance?

These enactments will make health insurance plans to be acquired easily and will increase the protection from rate increases as well as from undue cancellations. It will also expand the coverage given by such insurance plans by including cover for preventive health. At the same time, in 2014, students and other persons seeking health insurance would be able to receive support from the government to purchase individual health insurance plans as well.